Frequent Contributor
Posts: 325
Registered: ‎08-16-2011
Ideal utilization for carrying balances?

Ok so I understand that the ideal situation would be to keep all but 1 card at a $0 balance and let the 1 card with a balance report at around 9%. I've been trying to pay off some debt here lately but won't be able to pay all but one card off, or even let just 1 report at 9%.


That being said, what is the ideal % to try and keep cards under? I've heard 30%? I'm not app'ing for anything anytime soon, just trying to see where I need to aim for next. Right now I have 1 card at 16%, 2nd at 32%, 3rd at 63%, the 4th at 97% and the other 2 are paid off. I will have card 1 & 2 paid off by next month, and will start tackling card 3. I know I need to get the 4th card paid down fast asap too (at least under 90%), but of course this is the card that has the lowest rate for me (8%) so I'm trying to knock out all the 30%'ers.


Again, not app'ing for anything anytime soon so getting these numbers down is just a personal goal of mine.

05/31/2013 672 EQ (Fico), 03/08/2012 697 TU (Fico)

Closed on my first home 12/07/11! Officially a homeowner, thanks to this forum!!!